Chief Investment Officer

Job Description and Duties

Under the administrative direction of the Chief Executive Officer, and the policy direction of the Board of Administration’s Investment Committee, the Chief Investment Officer (CIO) manages the Fund’s investments and is responsible for the management and oversight of both the administration and investment functions of the CalPERS Investment Office, which includes but is not limited to: managing the fund’s investments; advising the Board on asset allocation and the development of new and innovative investment strategies; implementing approved investment strategies and policies; leading a team of 350 multi-disciplinary investment professionals with 7 direct reports; establishing work flow and priorities and ensuring that investments earn returns above established benchmarks. The CIO must possess the investment acumen, experience, and knowledge to work with and gain the confidence of the CEO and CalPERS Board of Administration’s Investment Committee, and to implement prudent strategies to fulfill CalPERS mission.

The CIO will be an integral leader in a large, diverse organization that administers pension benefits and purchases health care for 2 million members, and deals with a wide array of financial, economic, policy and administrative issues. The CIO is a critical member of the Executive Team for a highly visible and complex government organization and must have the skills to build and maintain cooperative relationships. The ideal candidate will be goal-oriented, organized and can carry out a complicated, highly visible, fast-paced, multi-faceted role with poise, integrity, and grace. Excellent communication skills are essential, as is transparency.

You will find additional information about the job in the Duty Statement.

Department Information

The California Public Employees’ Retirement System is currently seeking a Chief Investment Officer (CIO). CalPERS is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $416.71 Billion as of October 15, 2020. Headquartered in downtown Sacramento, CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations in California. The CalPERS team is committed to their core values and their decisions and actions are guided by the organization's investment beliefs.